JPMorgan lowered the firm’s price target on Dollar General (DG) to $66 from $82 and keeps a Neutral rating on the shares after the company reported quarterly results. The firm sees sequential top-line improvement in FY24 supported by management’s key initiatives around in-stocks, store standards, improving customer service, and signage highlighting value to customers. However, the firm also sees margin headwinds relative to 2019 tied to shrink, consumables mix, markdowns, and transportation.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
